desribe the social, economic, and political composition of the decade of corporate greed and how it affected the political climate of the 1980's.
http://en.wikipedia.org/wiki/History_of_the_United_States_(1980%E2%80%931991)
To understand the social, economic, and political composition of the 1980s, commonly referred to as the "decade of corporate greed," we need to examine several key factors that shaped this period and understand their impact on the political climate.
1. Economic Composition:
During the 1980s, there was a shift towards neoliberal economic policies, championed by leaders like President Ronald Reagan in the United States and Prime Minister Margaret Thatcher in the United Kingdom. These policies emphasized deregulation, privatization, and reduced government intervention in the economy. This resulted in the expansion of free-market capitalism and a focus on increasing corporate profits.
The 1980s witnessed significant economic growth, particularly in industries like finance, technology, and manufacturing. However, this growth was marked by rising income inequality, with wealth concentrated among the top-tier earners. Large corporations enjoyed increased economic power and influence due to deregulation and tax cuts.
2. Social Composition:
The social composition of the 1980s was characterized by a consumerist culture and materialistic values. The growth of advertising and mass media further fueled a desire for material possessions and displayed an emphasis on personal wealth and success. The pursuit of financial success and conspicuous consumption became more prevalent during this period.
However, the economic prosperity of the 1980s was not distributed equally. Those in the middle and lower income brackets often experienced stagnant wages and faced challenges in accessing affordable housing, healthcare, and education. This led to disparities and social divisions.
3. Political Composition:
The political climate of the 1980s was heavily influenced by the economic changes described above. Conservative ideologies gained prominence, advocating for limited government involvement, deregulation, and tax cuts. As a result, policies that favored corporations and the wealthy were prioritized over social welfare programs and increased regulations.
This political landscape was characterized by a pro-business stance, fostering close ties between politicians and corporate interests. Lobbying and campaign finance became prevalent, shaping policies in favor of corporations. This consolidation of corporate power influenced policy decisions and eroded trust in the political system.
The Impact on Political Climate:
The decade of corporate greed reshaped the political climate significantly. The focus on deregulation and laissez-faire economics resulted in a decline in government oversight and led to financial crises, such as the savings and loan crisis in the U.S. and the Big Bang in the UK. These events eroded public trust in political and economic institutions.
The increasing income inequality and favoritism towards corporations also gave rise to social and political movements advocating for change. Grassroots movements, such as labor unions, civil rights activists, and environmentalists, emerged to challenge the power of corporations and seek more equitable policies.
Furthermore, the ideological shift towards conservative economic principles during this period set the stage for subsequent decades, influencing the policy direction of governments beyond the 1980s.
To delve deeper into the details and fully understand the social, economic, and political composition of the 1980s, it would be helpful to explore books, documentaries, academic articles, and other resources dedicated to this topic.